Governor of the Eastern Province Inaugurates 2017 iktva

HRH Prince Saud Bin Nayef Al Saud, Governor of the Eastern Province today inaugurated the 2017 iktva SMEs Forum and Exhibition organized by Saudi Aramco.

The inauguration was attended by HRH Prince Ahmed bin Fahad bin Salman bin Abdulaziz, Deputy Governor of the Eastern Province, HE Khalid Al Falih, Minister of Energy, Industry and Mineral Resources AND Chairman of Saudi Aramco, and Amin H. Nasser, Saudi Aramco President and CEO, and several executives from major international companies, investors, and business leaders.

HRH the Governor of the Eastern Province also attended the signing of 11 agreements and MoUs to implement the 5-year iktva Program which emphasize compliance with its standards to enhance the in-Kingdom total added value of local content. The MOUs were signed with TAQA, Tecnicas Reunidas, SNC Lavalin, Zamil Offshore, Schlumberger (two contracts), Advanced Electronics Company, Saudi Oilfield Processing Company, Baker Hughes, JESCO and the Eastern Province Young Businessmen Council.

He then awarded excellence awards to several manufacturers and energy service providers for their efforts and commitment to apply iktva principles. The iktva Excellence Awards went to Schlumberger for ‘Best Overall iktva Performance’, Azmeel Contracting Company for ‘Most Improved iktva Performance’, Arabian Drilling Company for ‘Best in Training & Development’, Halliburton for ‘Best in SME Development’, and winners of the ‘Best SMEs’ award were Global Company for Downstream Industries (GDI), Innosoft, and AZR Technologies.

The Forum highlighted the central and vital role of small and medium size enterprises (SMEs) Sector within iktva program, which aims to establish a supply system that relies on local resources in line with international standards to maximize local content to reach 70% by 2021.